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five days before the election. for the latest details on our attempts to shoot down a u.s. truck or international waters to return to fox his national security correspondent jennifer griffin for report. >> aa 4:50 a.m., days before the u.s. president's election, to iranian fu25 fighter jets like these intercepted and fired twice upon an unmanned, unarmed u.s. m-2 one predator drawn of the persian gulf. the first time they have ever fired on a u.s. drone. the shots missed some of the thames, and iranian fighter pilots briefly pursued the drone which landed safely at an undisclosed location. >> it occurred over international waters approximately 16 nautical miles off the coastline. the aircraft was never in iranian airspace. it was always flying in international airspace. the international recognizes territorial limit is 12 nautical miles off the coast, and we never entered the 12 nautical mile limit. >> asked whether the incident was an act of war, the pentagon spokesman said he would not legally label it, adding the state department had protested through the swiss protective powe
rolls to re-election and a second term, defeating mitt romney despite a weak u.s. economy and persistently high unemployment. >> investors cheer obama's re-election. equities trading high led by autos and health care stocks. >> democrats keep their hold of the senate and republicans keep their control of the house. >> there will be a tough challenge facing the looming fiscal cliff. >>> a very good morning to you. it's been a long night, but we have a result. >> yes, we do. let's get right it to. president barack obama capturing a second term in the white house despite the struggling u.s. economy. he did manage to win many of the same states he took in 2008 and nearly all the critical swing states, including ohio, virginia, and colorado. speaking to supporters in chicago just a few hours ago, the president congratulated his republican challenger on the spirited race and said there's plenty of work ahead to fix the country's fiscal problems. >> i believe we can seize this future together, because we are not as divided as our politics suggest. we're not as cynical as the pund
. >> reporter: absolutely, lynn. this has been the big story outside the u.s. today. we've seen coverage all over the television with foreign correspondence stations not just in washington and florida, but all over the u.s. extensive coverage in newspapers, websites. virtually every foreign news organization has on its website a prominent section devoted to the u.s. election. that's tough to imagine in the u.s., that we would pay that kind of attention to another country's political contest. in fact, "the times" in london said their u.s. election section is now their most clicked aside from their home page and the views of it have gone up about 500% since august. part of the reason for all of this global attention is that so many people in so many other countries are looking for a catalyst for change in their own nations coming from a strong decision in the u.s. tonight there will be watch parties all over the world lasting all night long. lynn? >> all right, michelle kosinski for us in london. >>> right now vice president joe biden is in line along with his wife jill and son beau. he is the
might think. nbc's michelle kosinski is live in london for morton that. good morning. >> the u.s. election is a top story today outside the u.s. with coverage all over television, newspapers and websites. extremely thorough and extensive. in fact, virtually every foreign news organization has on its website a prom gent section devoted to the u.s. election. that's tough for americans to imagine that we would pay that much attention to another country's political contest. the times here in london tells us that their u.s. election section is now their most clicked outside of their home page and views of it have gone up about 500% since august. how much does this matter? yesterday, across europe markets declined amid the uncertainty over how the u.s. election would turn out. part of the reason for all this attention is that so many people in so many countries are looking for a catalyst for change in their own nations through what happens in the u.s. tonight around the world there will be live watch parties. looking at coverage that stations are carrying live from the u.s. and that wi
and democratic attorney general. one of our two u.s. senators was an independent, elected twice. an independent missed winning the governorship by 15,000 votes over a million passed in 1973. we were the ticket splitting capital of america. we have cents settled back into partisan voting with the rest of america. this is a very polarized era. having said that, when you have close elections you still have a band of voters who will mix and match on the ballot, either because they want to mix and match or they are simply reacting to the individual candidates. in the case of romney and kaine, i have personally been in situations where straw votes were taken among large groups and you generally find you have 3, 4, 5% of the romney boaters picking tim kane for various reasons. some of these romney voters are more moderate republicans and the like tim kane better than his opponent. are there similar voters for obama and george allen? i am sure there are. i never met one of them. but i will say this -- george allen, despite what happened in 2006, he has won from time to time in running for statewide off
was interviewed by the fbi, but it's not clear if broadwell has been questioned and if she will be. a u.s. official said petraeus was never a target of an investigation and that a tip about an affair led to that probe. now, general petraeus was scheduled to testify next week about the attack on the u.s. consulate in libya. now what happens now that he's gone? suzanne kelly is in washington with that part of this big story. >> susan, as washington reels from the announcement not only that david petraeus is stepping down from the post, but also from the admission he was having an extramarital affair, a u.s. official has said the counter intelligence unit was investigating a tip that he was having an affair because they needed to determine whether there was a potential security risk. the official telling cnn there was no suggestion that the fbi was investigating petraeus for any possible wrongdoing. now, if there were an official investigation focused on the cia director, that would have been something that the congressional oversight committees would have been briefed on. it's a matter of s
business. u.s. stock futures are flat this morning. >> the markets had a rough day yesterday. chris teens romans here to explain this big selloff. is there an explanation? >> can you see the sectors reacting to a second obama administration. let me show you what it looked like, 313 points, the first dow close below 13,000 in three months. that was the worst day of the year. more than 2% down. when i talk about the internals of the market, i'm talking about banks, insurers, cole companies, energy companies, they fell because, in fact, they think they're going to have higher costs. the markets think they're going to have higher costs in a second obama administration. you saw some obama care related stocks like hospitals up on the assumption that obama care is now secure. the internals showed us how investors in different sectors were reacting to a second obama presidency. but there were also concerns over europe and the fiscal cliff and the fact that now you have this election out of the way, you still have the very big problems still facing us. debt crisis, markets started to turn yesterda
the battleground states that were so heavily fought over in the most expensive race in u.s. history. it was early this morning when the president appeared with his family, becoming the third consecutive two-term president we elected. not happening since the presidents jefferson, madison and monroe. president obama won both a decisive victory in both the electoral college. and here on the east, the nor'easter, a storm so fierce the governor of new jersey said it will move the state's recovery effort backward for a time. and here is a look at the skating rink we used as part of the coverage on election night. tonight, it is under a layer of swirling snow. back inside, we begin with what happened last night. the president's historic re-election to a second term. he is back on his way to the white house tonight, where kristen welker starts off the coverage. good evening. >> reporter: good evening, brian, after the grueling election, the president returns back to the white house. and with the economy limping back to health, the stakes could not be higher. the president headed back to washington where
the biggest impact in the u.s.? >> one of the most powerful campaigns was the trayvon martin case. a 17-year-old african-american, killed in florida, tragically. two weeks after the incident, there was no media coverage of all. a private injustice. the parents start a petition, and then it goes viral. the importance is not just the individual acts of arresting his killer in prosecuting him, but the public. the result, the awareness of the tragic situation of young african-americans not being treated fairly in the justice system or the "stand your ground" laws, where you can almost impunitively shoot someone. that is some of the really exciting things we see. >> in trayvon martin's case, clearly there was an impact, but they were not waiting. they were in there pretty soon, on the case. what i want to ask you -- do you find a difference in the way that companies -- you have a lot of petitions aimed at companies that do specific things. obviously, some have had more political implications. is there a difference in response between business institutions and political institutions? >> politician
still has faith in john allen, the current u.s. commander in afghanistan who is now under investigation by the pentagon's inspector general for what officials describe as potentially inappropriate e-mails with one of the women directly involved in the case. nbc's chief foreign affairs correspondent, andrea mitchell, has more on an ever-widening story. >> reporter: the scandal involving two very different women, tampa socialite jill kelley and petraeus biographer and former mistress paula broadwell ensnared not only petraeus but his successor. marine general john allen who took over from petraeus in afghanistan and is the president's choice to be supreme allied commander of nato forces in europe, a nomination now temporarily on hold. >> thank you for all that you have done, for me and for our precious daughters. >> reporter: the general is married with a sterling record. but on a flight to australia monday night, aides to defense secretary leon panetta disclosed a dramatic turn in the petraeus case. fbi investigators had uncovered what the pentagon called potentially inappropriate commun
major u.s. allies. france and england. it was a fight over control of the suez canal. the american president at that time, in 1956, was, of course, dwight eisenhower. republican. he was running for re-election against the democratic candidate that year, adlai stevenson. talk about an october surprise. that year it was eight days before election day. both candidates are forced to deal with an unexpected and genuine giant foreign policy crisis. >> on sunday the israeli government ordered total mobilization. on monday, their armed forces penetrated deeply into egypt and to the vicinity of the suez canal, nearly 100 miles away. and on tuesday, the british and french governments delivered a 12-hour ultimatum to israel and egypt, now followed up by armed attack against egypt. the united states was not consulted in any way about any phase of these actions. nor were we informed of them in advance. >> president eisenhower sounding kind of mad, right? the u.s. had not been informed about the attack ahead of time. because ike had made clear to our allies, to england specifically, that he didn
, and i think we think it's more likely than not that democrats will gain seats in the u.s. senate. that was unthinkable six months ago. it's going to lead to real recriminations inside the republican party about who made these mistakes and getting these candidates and failing to get people like todd akin out of these races and get electable republicans into these races that they have to be able to win. >> if you look at senate republicans other the last four cycles, they've been pummeled. in 2006 democrats weren't supposed to pick up the senate, they did. in 2008 they expanded to a 60-seat majority, they were able to get health care done as a result of the pickup that they had. in 2010 you had republicans have an opportunity to pick up the senate, they fell short. and now again a huge opportunity this year to pick up the senate, and it looks like they might actually fall backwards because of these races you're talking about, massachusetts, indiana and missouri. i think one of the things that we've learned over the last couple of cycles is when republicans talk about the economy as
back to that expert, mark twain. he says about music what i would say about the u.s.-china relationship. --said about wagner's music he was a great music critic. britney spears'spair not asand said, "it's good as it looks." [laughter] >> thank you. >> let me pick up on a point he made earlier. it is a complex idea. a great challenge that we face and might face is managing this relationship. in this context, i want to stress what i see as two of the major issues of challenge. first, the internal challenge. we tend to assume that china is growing at an% a year -- 10% per year, but i think that is wrong. i think we will see a combination of economic and internal political reasons. china is entering, my guess is a very difficult period. the society has outgrown the political system that brought the revolution. we have seen decided grow in the way it has. it has substantial measure because of its economic growth. i like to do this when i give talks about china. this is one of the most revolutionary technologies of any kind -- cell phone. it is relevant because there are millions of cell phon
and save the u.s. economy from going down a dangerous road. it is wednesday, november 7th, the day after and a special early presentation of "squawk box" follows the late presentation that we had yesterday. but it starts right now. >>> good morning, everyone. welcome to "squawk box" here on cnbc. and yes, we know it's only 5:00 a.m. on the east coast, but you don't have to double check your clocks. on the morning after election day, we couldn't wait until 6:00 a.m. to get back on the air. the american public handing president obama four more years in the white house. meantime, the balance of power stays the same in the senate. this morning, we have two main items on the squawk agenda. after months of handicapping the race, we'll find out how the global markets react to the decision and ask how you need to position your portfolio. we have a number of people on hand to help us with that task, including mike santoli. he is our guest the next hour. chuck gabriel, his job is to try to connect the dots between washington and investors. we have jeremy seigel. also, vincent rinehart. we'll be jo
's amazing. >> the other thing i find amazing is i remember going through the u.s. treasury in the height of the financial crisis, and back then, you had officials who were scribbling down important facts and figures on scrap paper because that was one of the few things they were able to legally throw away and get rid of. and if you go around other branches of the u.s. government today, people are intensely aware of the risks of e-mails being kept. if you go and talk to private sector banks, nobody working on a bank trading floor these days can possibly not be aware of the risks of tracking thoughts and e-mails. and yet somehow the military just seems not to have noticed this. it is very, very striking. >> there's one other dedataidei this "journal" story, kelley had second thoughts. and people said they made the request, quote, she was worried about the personal information being provided to investigators. >> like the diplomatic license plates. >> talk about the horse after it's left the barn door. >> you predicted fiscal cliff would be the fifth question. it's going to be our second top
republican critics and answer questions about the september 11th attack on the u.s. consulate in benghazi. rice will sit down with senators john mccain, lindsey graham, and kelly ayott. in recent days, senator mccain has softened his criticism as rice insists that she was relying on talking points from the intelligence community. last night, senator graham rejecting her defense but says he's open to today's meeting. >> she asked to meet with us and now we'll listen to what she has to say about her role in benghazi. the more i know about benghazi, the more upset i am that the consulate was even open on september 11th. when you look at the history and the reporting coming out of libya about the dangers, it should never have been open or heavily reinforced. after the attack, i think the story we were told about a spontaneous event caused by video where a mob turned into a riot is less credible than ever. >> she reportedly called the meeting. seems like a smart move. what do you think? >> well, i think it's a smart move for john mccain to take the meeting. they're boxed in. this is not a figh
been positive for obama. >> her husband is jay-z. >> bill: yes. >> one u.s. marine has an ambitious goal to help the wounded warrior project. sergeant enrique trevino of florida is on his way to doing one million pushups this year all for the charity. he tells abc -- >> bill: is that like nonstop? >> one million pushups for the year. >> bill: nonstop? >> it started out as a new year's resolution. starts his day by doing 500 pushups before going to work. he does them about every five to ten minutes. does anywhere from 25 to 50 in one sitting before breakfast. then he kicks it up a notch during his lunch break. 30 minutes straight! gets 600 pushups done during lunch. he's ahead of schedule. he's done 845,000 pushups so far this year. >> i just did the math by the way. to do a million in one year, you have to do 2,739 pushups every day! >> he does that -- a lot of times more so occasionally he can take a day off. >> i only do 1,000 a day. >> bill: i only do 50 before i come over in the morning. and
to the polls tomorrow and have been voting early, how confident are you in the u.s. electoral system? here are the numbers to call. host: you can also find us online, using social media. send us a tweet using journal@c- span.org -- twitter.com/c- spanwj. or find a conversation on facebook. you can also e mail us, twitter.com/c-spanwj. how confident are you in the u.s. electoral system? we will bring some articles on how early voting is unfolding, but first, here is the headline from "usa today." 48% to 48%. "it comes down to turnout." host: what do you think about the u.s. electoral system as we head into the final day? voters go to the polls tomorrow. in "u.s. a today," the two candidates made their pitch for why you should vote for them. barack obama, mitt romney, writing in to "usa today," sharing their opinions. president obama says -- "do not give up, we have had a rise in jobs and a rebound in growth." governor romney says -- "we need a new beginning." looking at the headline of "the wall street journal," it gives us an idea of where the candidates were over the weekend. you can see
of maryland, and along with that the first openly gay member of the u.s. senate was elected in wisconsin. here is tammy baldwin. [video clip] >> i did not run to make history. i ran to make a difference. [applause] a difference in the lives of families struggling to find work and pay the bills, a difference in the lives of students worried about debt. [applause] and seniors, worried about their retirement security. [applause] a difference in the lives of veterans who fought for us and need someone fighting for them and their families. [applause] a difference in the lives of entrepreneur weres -- entrepreneurs try to build a business and economic security. [applause] but in choosing me to tackle those challenges, the people of wisconsin have made history. [applause] host: this tweet from benjamin netanyahu, the prime minister of israel, who congratulates u.s. president barack obama on his election victory. fort lauderdale, florida. independent line. caller: thank you for taking my call. host: did you vote yesterday or early in florida? caller: a voted early. actually, i went out and did some la
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to call at this point. derrick. >>> thank you anita. we have a winner in the virginia u.s. senate race. democrat tim kaine defeats george allen. now, andrea ma karen is with the -- andrea ma karen is with -- mac karen is with them. and sadie is with the democratic party. >> reporter: yeah. people were cautious coming in. it took a while to develop. tim kaine is finishing up his victor speech. there he goes. thanking everybody. i don't know if you can hear me. but the crowd is very excited. tim kaine hugging congressman bobby scott right there. and to the far right i'm not sure if you can see him, but it is his father-in-law. obviously even very excited -- everybody excited. it was a hard fought, tight race. $80 million. the most expensive senate race this year. lots of negative ads. 50 million of that money came from outside sources. and governor kaine said they fought against the negative advertisements. everybody very excited. tim kaine talked a little about his missionary work. he took a year off from college and went and lived in honduras where he went to missionary for a year. tal
deaths in the u.s. overall, it's left 175 people dead, including the victims in canada and the caribbean. meanwhile, national guard troops are continuing to search and rescue. they are also helping to clear debris so crews can get the power back on and deliver food to people who need it. in new york, after a lot of criticism, mayor michael bloomberg cancelled the new york city marathon for the first time in 42 years. it's never been cancelled. it was set to take place tomorrow. no decision yet on whether it will be rescheduled. and at noon eastern, gas line will start being rationed in 12 counties in new jersey. to cut down on long lines at gas stations, people can only buy gas on odd-numbered days like today if their license plates end in an odd number. same goes for the even days. >> yeah. it's -- it's a mess. i mean, they got to do something, right, to make it a little bit easier for folks to get gas line. >> more time getting gas than waiting to vote. >> a lot of people were worried they would run out of gas in the gas line. much more ahead for you this hour. >> yeah. here's what's c
race in u.s. history. it was early this morning when the president appeared with his family becoming the third consecutive two-term president we've elected. that has not happened since the time of presidents jefferson, madison, and monroe. president obama won a decisive victory in both the electoral college and in the popular vote. the outlyer, the one state on the map not yet called is florida. and here we are on the east coast, also covering this. a nor'easter, a storm so fierce the governor of new jersey said it will move his state's recovery effort backward for a time. and here is a live picture of the map, the 30 rock stage we used as part of the election coverage last night. tonight it is part of swirling snow. back inside, we look at what happened last night as the president's historic re-election for a second term. he is back at the white house, where kristen welker has more. >> reporter: brian, good evening, after a grueling and bitter campaign, president obama returns to the white house as a two-term president. and with the economy still limping back to health, the stakes c
. i think tim cain's going to be elected to the u.s. senate, and a lot of it on these issues, on the doors knocking on doors and on phone banks today women are saying i can't believe this is a guy running for president who doesn't know where he is on equal pay, wants to get rid of birth control coverage in insurance plans and wants to get road of planned parenthood. every woman in america knows what that means. mitt romney may not know, but women do. >> stephanie: i'm reading a piece, because we're so focused on the presidential, but there's a lot going on particularly with female candidates and particularly in the senate. it looks like the odds are the democrats are going to retain the senate, right. >> caller: yes, and there are so many women running for the senate this time. we really stand to have a record number of women join the senate, so, you know, in a number of battleground states, as well. baldwin, it's exciting, doing really, really well in wisconsin. the list goes on. >> stephanie: it's interesting that you almost one talk about the war against women you almost c
what how we're going to go forward with the u.s. and the island. >> reporter: of course d.c.'s mayor gray has a lot to say about the push. he's a huge proponent for d.c. state hood. he applaud the puerto ricans' efforts but as you would imagine, he wants the district to be the 51st state. >> we're glad they've stepped up. perhaps we can join forces to make the case as to why we should be a state. >> reporter: make to mistake, mayor gray is vasing to get -- racing to get state hood for d.c. before anyone else does. he's gotten arrested as an act of civil disobedience to prove his point. >> they're going to have to work very hard to make the case. >> reporter: congress will make the final approval but president obama will respect the will of the puerto rican people. which that has the executive chef feeling proud of her island roots. >> it's great to be part of the democratic government that is going to allow us to really fick what we want,. >> reporter: will congress agree? downtown washington, ken molestina, 9news now. >>> at 6:36 jessica doyle has another your money report. >> count
a chance to turn the u.s. around and i believe he is genuine. thank you. host: the next caller from new york on the democratic line. caller: thanks for taking my call. that last call was interesting to me because it seems romney's solution is a big huge tax cut for the wealthy in this country. president obama came in with the bush recession and he's put the stimulus in place and he has put in many other policies that have helped this country stabilize and created 5 million jobs. and what will mitt romney do? cut taxes. that's not a solution. mitt romney has no credibility on domestic policy or international policy. if you're solution for everything that ails us is tax cuts, that's not going to work. look at the bush tax cuts from 04. in the debate, he agreed with president obama on 95% of everything and when he tried to get president obama on libya, he failed. he has no credibility. he will say anything to win and i think that's why president obama will prevail on november 7 because he deserves reelection. he's a great president. host: we can see mitt romney talking to supporters there
that could push the u.s. into another recession. maria bartiromo is the host of cnbc's "closing bell." >> well, people are putting two and two together, saying wall street dropped the day after the election. simple question, why? >> you're absolutely right. well, first off, people are worried about higher taxes, higher regulation under it had obama presidency. but also, it is this near-term worry about the fiscal cliff. at the end of this year, we will see $600 billion of spending go away. there are spending cuts coming, that means, defense companies, transportation, construction, they may very well have to lay off workers. in addition to that, we've got the highest tax increase coming on virtually all income levels. these two things will coincide, and that is the fiscal cliff to basically possibly push the u.s. economy into recession unless congress does something about it. >> is wall street basically registering its doubt and skepticism that either party can come together and resolve this? >> that's right. i think we will see compromise. already you've seen the president reach out
of the national senatorial committee made a statement this morning regarding last night. u.s. senator john cornyn tonight made the following statement. here is the "new york times" and how they played last night's election. here is the, "wall street journal." the "washington times." andy "washington post" -- and the "washington post." cynthia on the democrat's line, good morning. caller: my view is how to do with the racism. there is a much divisiveness in terms of the racism. in order for both parties to move ahead, i think that's something needs to be done there. there is racism, and the other topic was how women were huge, especially by the republicans. women are people prepared -- our people. god gave us all the power to think on our own and there is nowhere that he says women cannot make choices. and men, especially on the republican side, are going to have to realize that women should be able to say what we allow with our bodies and not allow. host: can you give us an example of what you mean by racism in yesterday's election? caller: racism in terms of black and white, hispanic -- host: yo
: astonishment. i mean, they were amazed that most u.s. states don't require voter id. they were confused about why there's no uniform system that each state kind of does its own thing, and they were puzzled by provisional ballots. that's where you walk in, and if your name's not on the voter rolls, you still have eligibility to vote, and then they check your status later on, if ever. they also commented on the lack of police presence at polling places, and they wondered how it is we keep people from sending in numerous ballots when you have mail-in ballots, and many, of course, have wondered the same thing. keep in mind, many of these observers come from countries where you give a thumb print to actually prove that you're a voters, you know, fingerprinted. and in gambia, megyn, they give you one marble, and you take that marble, and you put it in the jar that has your candidate's name on it, and they listen for that ding, right? because if they get more than one ding, they think maybe there's a little bit of -- megyn: funny business. >> reporter: you know, a little bit of -- megyn: hanky-panky
paying their fair share of taxes. costing the u.s. treasury more than $100 billion a year and the electorate said yes to that right? >> stephanie, that is exactly the point. what has got to happen right now, you know -- what -- we have not -- what we cannot see in washington is some kind of great debate between right-wing extremist, and centrist democrats. that's not the debate. the debate is will the u.s. congress do what the american people want them to do as expressed in poll after poll. so we shouldn't come out somewhere between what right-wing extremists want and wall street democrats want. we have to do what the american people want, and they say yes. >> stephanie: and i was just reading your piece and it's -- this is what -- you know, you are talking about poll after poll show that american people do not believe that global warming is a hoax poll after poll show people strongly disagree that republicans want to cut spending on education, i mean that's what i have been saying -- >> stephanie, here is the point. you are right. we have got to po
's first openly gay u.s. senator, defeating tommy thompson. >> and the key word there, "openly." and in maine, independent angus king easily won the senate seat. i am not bottled up on that one. >> the most important adverb of the morning. >> the most notable pickup for republicans was in nebraska where deb fischer flipped ben nelson's seat defeating bob kerrey. >> look at these numbers, mike, really quickly before we go to break. that race was getting close, we had heard, near the end. kerrey was catching up. but i'll tell you what, in all of these races, barack obama's coattails were long. in nebraska, you look at those numbers, you look at massachusetts, it wasn't even close in the end. mitt romney had no coattails. in fact, he had a really detrimental impact on a lot of these candidates. >> mitt romney lost in every state he's ever liver lived. >> that's a bad sign. >> do you think his dog's going to even look at him today? >> you know the guy who's in charge of the research committee for republican senate candidates? >> well, no, i don't, thank god. i mean, seriously. the
will diminish our record of creating jobs in the u.s. and repate rating properties back to this country. polls receiving high marks for his handling of superstorm sandy, it's unclear how much the race has changed. hoping to recapture the momentum he had before the storm, romney recycled a line of attack he used presandy. >> he's been out talking about how he's going to save big bird and then playing silly word games with my last name, or first. and then attacking me day in and day out. >> reporter: the storm also interrupted romney's closing argument which he was supposed to start delivering last monday. instead, he has five days left to make his case against a president who has emerged from sandy perhaps now tougher to beat. wolf. >> jim acosta on the campaign trail with mitt romney. devastated barely begins to describe what happened to staten island, new york, in the wake of superstorm sandy. in just a few minutes we'll go there live as residents who lost everything try to figure out where they will go. [ female announcer ] born from the naturally sweet monk fruit, something this delicious c
is in his job as u.s. senator. [applause] but more important than that i'm here as a mom and a citizen who is very concerned about the future for our kids and for our country. and i know and have come to see that mitt romney is the right candidate for us for president. he is the man with the record. [applause] . he is, right. mitt romney is the man with the record, the experience and the character to begin to turn things around, to begin to change things in wash wark, to break the gridlock abdomen make the change that is we need to get our country back on track so we all need to do everything that we can to be sure that he is elected as the next president of the united states. and what i like to think today is that we have five more days to avoid four more years. [applause] so it's just great to be here with all of you. it's great to feel this energy in ohio. it's going to be close but we are headed in the right direction. it's my pleasure to introduce a friend of mine and that is our special guest. you all know her. you all know she's our ohio born and bread. she went to ohio state here.
behind such a wide swath of destruction how will the devastation effect the already fragile u.s. housing market? >> brian: let's ask ceo of sharpen institute. alex, what short-term for the housing market that many people believe was on its way back? >> the housing market has been on its way back. we have three things that are going to change in the short-term. one of the things affected in the northeast is of course there is just not enough houses. we have a 50 year low of inventory right now. so where we were seeing a recovery, we're now going to see some struggle just due to the incredible damage. this is the second costliest hurricane in the history of the united states. so, when you look at the numbers, $50 billion in damage, it's going to take a while for the northeast to recover. overall, however, the housing market in the u.s. is strong due to investors and banks finally moving through distressed inventory. short-term we will see an effect. long term this shouldn't effect the entire housing market. >> steve: short-term you are talking about the next three to six months. all right.
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